MarTech Spend Exceeds $34 Billion: WARC Research
U.S. and UK marketers will spend $34 to $40 billion on technology this year, or roughly 16% of their budgets, according to advertising industry research firm WARC. That’s in line with an IDC estimate of $42 billion worldwide for 2016 but well below the 27% of marketing spend reported by Gartner. Gartner pegs martech spend at 3.24% of corporate revenue but I’ve never seen that converted to an actual number. For what it’s worth, total U.S. business revenue is about $15 trillion per year, so 3.24% of that would be about $500 billion.